The COVID-19 pandemic shifted businesses to the digital platform. As a result, most of the processses went online and minimized delays. Electronic signatures is a case in point. Not only does it bring convenience, it puts all concerns related to security to rest.
Since signatures are a vital part of business workflows, moving towards electronic signatures is a better option.
Electronic signatures cut down the inefficiency and improve productivity. The electronically signed copy is legally valid in a vast majority of countries. Electronic signatures are secure and verifiable. The adoption rate of E-signature solutions is rising in India and worldwide.
Tampering with paper documents and forgery of physical signatures is relatively easy. So, how does one know that the signature is valid and signed by an authorized person? Well, one cannot know that!
Here's where the role of the electronic signature comes into the picture. An electronic signature establishes the signer's identity by performing multi-factor authentication. Email id, mobile number, access id, and login credentials (such as Active Directory) are typical factors used. The digital signature solution maintains the audit trail for traceability. It includes the IP address of the signer's system, timestamp, and the reason for signing. Also, once the document is signed, it is sealed or made tamper-evident by certifying it using a PKI digital signature certificate.
Signatures done using digital signature certificates are also a kind of electronic signature. A Certifying Authority issues the signature certificates after verifying the applicant's identity. This ensures that the signatures are verifiable. Also, most signature certificates are given in a FIPS 140-2 secure hardware device like a USB token or HSM. Also, every certificate is password-protected, thus providing multi-level authentication.
Thus, electronic signatures help with the last mile of digitization in a safe, secure, and scalable manner. Suppose you plan to get a digital signature solution. In that case, TRUESigner is built to provide a robust security framework that ensures only bona fide access to the signatures from authorized individuals and allows IP addresses only. Get in touch with us today!